Treasury Secretary Scott Bessent criticized the International Monetary Fund during an Institute of International Finance forum, alleging it is misdirecting its resources to social issues like climate change and gender equality, which he claims detracts from its primary economic focus. He emphasized the need for the IMF and World Bank to return to their original missions, warning against excessive spending and ineffective reforms. Bessent's remarks come amid a downward revision of the US economic growth forecast, further highlighting the tensions between economic stability and social priorities.
Treasury Secretary Scott Bessent criticized the IMF for prioritizing 'woke causes' over economic stability, claiming it's leading to 'mission creep' and neglecting macroeconomic issues.
Bessent urged the IMF and World Bank to refocus on their core missions, asserting they must be held accountable and fit for their intended purpose in the global economy.
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